Global Functional Beverages Markets Report 2022: A $175+ Billion Market by 2027 - Industry Trends, Opportunities and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 30, 2022--
The “Functional Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global functional beverages market size reached US$ 116.16 Billion in 2021. Looking forward, the market is set to reach US$ 175.8 Billion by 2027, exhibiting a CAGR of 7.15% during 2021-2027.
Functional beverages refer to non-alcoholic drinks containing non-traditional ingredients such as vitamins, minerals, dietary fibers, amino acids, raw fruits, and probiotics. Sports drinks, energy drinks, herbal tea, vitamin water, and fruit drinks with additives are some commonly available functional beverages.
They are widely consumed to improve health, energy, athletic endurance, and hydration. Functional beverages assist in delivering nutrients and bioactive compounds to the body, including antioxidants, fatty acids, fibers, plant extracts, and micronutrients.
As a result, their consumption promotes a healthy cardiovascular system, improves digestion, prevents cancer, boosts immunity, regulates weight loss, strengthens joints, and enhances memory.
Functional Beverages Market Trends:
Global functional beverages market is primarily being driven by significant growth in the food and beverage (F&B) industry due to the increasing demand for healthy and high nutritional food products. In line with this, the increasing product demand can also be attributed to rising consumer health consciousness and the growing participation in sports and allied activities to provide instant energy, prevent dehydration, and improve overall health.
Additionally, the launch of organic, vegan protein, cannabidiol (CBD)- and plant-based, non-genetically modified organism (non-GMO), and allergen-free functional drinks is providing an impetus to market growth. Besides this, emerging trends in beverage consumption and related demographics, such as age and gender-specific functional beverages, that cater to the specific needs of kids, women, and the geriatric population is creating a positive outlook for the market.
Furthermore, recent innovations in packaging, such as single-serve and ready-to-drink (RTD) packaging, to address the rising demand for convenient functional beverages are supporting the market growth.
Other factors, including rising consumer expenditure capacities, easy product availability across various retail platforms, and extensive celebrity endorsements and promotional activities by key players to broaden the consumer base, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
- How has the global functional beverages market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global functional beverages market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the distribution channel?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global functional beverages market and who are the key players?
- What is the degree of competition in the industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- Amway Corp.
- Campbell Soup Company
- Clif Bar & Company
- GNC Holdings LLC (Harbin Pharmaceutical Group Co. Ltd)
- The Kraft Heinz Company
- Monster Beverage Corporation
- National Beverage Corp.
- Pepsico Inc.
- Red Bull GmbH
- The Coca-Cola Company.
Key Market Segmentation:
Breakup by Type:
- Energy Drinks
- Sports drinks
- Dairy-based Beverages
Breakup by Distribution Channel:
- Supermarket and Hypermarket
- Specialty Stores
Breakup by End User:
- Fitness Lifestyle Users
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/lycik6
View source version on businesswire.com:https://www.businesswire.com/news/home/20221230005129/en/
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INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/30/2022 06:26 AM/DISC: 12/30/2022 06:25 AM